Five Dangers of Co-Signing


Ask Carolyn Warren

co-sign Before you agree to be a co-signer for a friend or family member, consider the hidden dangers. By co-signing, you are not simply vouching for that person’s integrity. You are legally taking on responsibility for the loan yourself.

As a result, the debt and payment are yours in the eyes of a mortgage lender. The mortgage underwriter will calculate that payment into your debt ratio. This could easily prevent you from being able to buy the house you want. But hold on, there’s more…

Five Reasons Why Co-Signing is a Dangerous Move

1) No one can predict the future. What if the primary borrower gets hit with an illness and is hospitalized? What if he/she needs surgery and cannot work? What if the company they work for is sold or undergoes a restructure so that they are laid off work? What if they are a victim of identify theft?…

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OHSU, circa 1939


Vintage Portland

Today we have an aerial view of southwest Portland overlooking OHSU. In this aerial you can also see SW Terwilliger Blvd., SW Barbur Blvd., SW Farmington Rd., Marquam Nature Park, and the upper portion of Duniway Park containing the lilac gardens.

Aerial of SW overlooking OHSU, circa 1939 : A2001-045.443 Aerial of SW overlooking OHSU, circa 1939 : A2001-045.443

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Portland Community College Cascade Campus, circa 1969


Vintage Portland

Here we have an excellent aerial of what is now Portland Community College’s Cascade Campus located on N Killingsworth Street. The school began as a small Christian College which transferred its holdings to the entity that created PCC. The campus has transformed and expanded over the years since this photograph was taken, circa 1969. In the lower left corner you can see the Jefferson High School football field, and to the right of the field, the Multnomah County Library North Portland branch. In the upper left of the image you can see Ockley Green School and the defunct streetcar barns near N Jessup. In the upper right you can see the Peninsula Park Rose Garden.

Aerial view of Cascade Campus, circa 1969 : A2010-002.205 Aerial view of Cascade Campus, circa 1969 : A2010-002.205

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The Forestry Building, 1905


Vintage Portland

Here we a have a picture of two women sitting in the upper balcony of the Forestry Building. This image really displays how massive the support logs were. Keep in mind, this image is from 1905. Imagine what they must have gone through during the constructions of this building. It is truly spectacular!

Two women on upper balcony of Forestry Building Two women on upper balcony of Forestry Building, 1905 : 7200-03

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Is a 40-Year Mortgage Worth It? How to Decide Whether or Not This Longer Term is Right for You


neiljcoleman

Is a 40-Year Mortgage Worth It? How to Decide Whether or Not This Longer Term is Right for YouThere are different timetables for mortgages. The most common types are 15-year and 30-year mortgages. However, a mortgage broker can establish unique timetables for a homeowner, such as a 40-year mortgage.

Friends may recommend going for a long-term timetable, but what do professionals think of a 40-year mortgage? Here is what you may want to consider to see if a 40-year mortgage is appropriate for you.

The Monthly Rates Will Be Low

Compared to a 15-year or a 30-year mortgage, the monthly payments for a 40-year mortgage will be lower. Since the mortgage is spread over 10 years beyond a conventional 30-year mortgage, homeowners will see much lower mortgage payments per month. This can be very attractive for homeowners who need to control their housing costs per month.

Long Term Costs

But, many brokers will tell a homeowner the extra 10 years is not worth it. Because the homeowner will…

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How to Avoid the New High Mortgage Lender Fees and Keep More Cash in Your Own Pocket


Ask Carolyn Warren

Money 2The annual report for lender fees, state by state, is out. Is your state on the five most expensive or the five least expensive states in which to close a mortgage loan?

That’s an interesting question, but more important is how do you avoid paying those over-priced closing costs, no matter what state you are in?

It is my pleasure to tell you that I see Good Faith Estimates from all over the U.S., and from all types of lenders: banks, brokers, credit unions, and other direct mortgage lenders. None of my clients (and I expect that none of my book readers either) are paying the new higher fees stated in this report.

None! They’re too smart for that. They keep more of their cash in their own bank accounts and shell out less for inflated origination costs padded by junk fees.

Five Most Expensive States for Mortgage Fees

1)…

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